. >> reporter: president obama accuses republicans of flirting with financial calamity. >> thousands of teachers and educators will be laid off and tens of thousands of parents will have to scramble to find child care for their kids. air traffic controllers and airport security will see cutbacks. >> with automatic spending cuts referred as the sequester, the white house says on military might becomes second rate if the cuts are allowed to take effect. furloughed workers could mean forest fires burning unwhich checked and fewer inspectors could mean meat shortages. republicans accuse the president of fear tactics. >> house republicans have passed two bills to replace the sequester, why won't he work with us? the answer is he wants higher taxes. >> the republican group have posted an ad with his dire prophecies. one prediction with flight controllers, travelers could face 90 minute lines at airports but the department of transportation will lose just a billion dollars from a $74 billion budget. overall the budget cuts would amount to just 2.3% of federal spending. >> the white house do